Form 1099-DA

Today, we are going to work through that assessment in a practical way.

How to identify whether a crypto business may be a botting crypto asset service provider, why transaction chains and product labels can be misleading, how Kaaf interacts with Form 1099-DA in the US, and what lead starters should prioritize now.

Percy, if a business is starting only now, what's the first question it should ask?

The first question is whether the business or any entity in its group could be a reporting crypto asset service provider or R-CASP.

The product name tells us how it is marketed, its rights, functions and legal terms tell us how it may be reported.

That product discussion also leads naturally to the broader multi-regime challenge.

A single digital asset product may need to be considered under CAF, CRS 2.0, and where there is US exposure, Form 1099-DA.

If a group has US customers, US brokers, US entities, or US transaction flows, it may also need to consider the Form 1099-DA rules alongside CAF and CRS 2.0 analysis.